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to become treasury secretary. thursday, obama tapped his own chief of staff jack lew to replace timothy geithner air. lew was an executive at citigroup from 2006 to 2008 at the time of the financial crisis. he served as chief operating officer of citigroup's alternative investments unit -- a group that bet on the housing market to collapse. lew has long pushed for the deregulation of wall street. from 1998 to january 2001 he headed the office of management and budget under president clinton. during that time, clinton signed into law two key laws to deregulate wall street -- the financial services modernization act of 1999 and the commodity futures monitored his asian act of 2000. on thursday, independint senator of vermont bernie sanders criticized the nomination saying -- at a press conference at the white house thursday, president obama praised the record of jack lew. >> jack has the distinction of having worked and succeeded in some of the toughest jobs in washington and private-sector. as a congressional staffer in the 1980's, he helped negotiate the deal between president reagan an
house chief of staff jack lew as his next secretary of the treasury. good evening, i'm jeffrey brown. >> woodruff: and i'm judy woodruff. on the "newshour" tonight, we have more on the man and the economic agenda he has been tapped to spearhead for the next four years. >> brown: then, ray suarez gets an update on a series of bombings that killed more than 100 people in two pakistani cities today. >> woodruff: margaret warner looks into new federal guidelines for mortgage lending aimed at protecting both consumers and lenders. >> brown: we look at the tense political situation in venezuela, after the national assembly delayed the inauguration of cancer-stricken president hugo chavez. >> this is essentially a power play. behind that secrecy there is nothing but an attempt to ensure the continuity of the regime regardless of president chavez's presence. >> woodruff: and with five oscar nominations, we examine the controversy surrounding one of the most talked about new films yet to see a nationwide release; "zero dark thirty," about the hunt for osama bin laden. >> brown: that's all ahe
secretary of the treasury, jack lew, the man he made his chief of staff, a year ago yesterday. lew would succeed tim geithner, who drew fulsome praise from the president. >> when the history books are written tim geithner's going to go down as one of our finest secretaries of the treasury. our economy is better positioned for tomorrow than most of those other countries hit by the financial crisis. the tough decisions tim made and carried out deserve a lot of credit for that. >> brown: at 57, lew is already a 30-year veteran of washington. he was a principal domestic policy advisor to house speaker tip o'neill in the 1980's, and negotiated with the reagan white house on social security and tax reform. later, he served two stints as the country's budget director, first under president clinton, then under president obama, before becoming white house chief of staff. today, in the east room of the white house, the nominee voiced his gratitude. >> thank you mr. president for your trust confidence and friendship. serving in your administration has allowed me to live out those values my parents
will talk about the pick to replace treasury secretary tim geithner we will talk about jack lew who has served at the treasury department under clinton and obama. is great to see you again. jack lew claim to fame to create a surplus bet americans are up in arms? >> nobody has a better resonate and jack lew who was an aide to tip o'neill during the reform of social security. republicans are really just playing partisan. lori: over the last three years ago with budget director u.s. has run deficits over $8 trillion per year in that rate is of contention with criticism. >> a lot of that's is more partisan fear than reality. one interview that he did when the president proposes budget that spending on government programs would balance with the revenues to equalize. their rubies smaller running deficits but that was the course scope and size issue. they said it is semantics but that is not the case. lori: do they not like him because he is a tough negotiator? >> that is part of it. >> except john kerry every nomination is criticized even in hagel is not good enough. so the backdrop of the ob
for pick for the new treasury secretary. it's believed to be jack lew. that is who he will nominate. chief congressional correspondent mike emanuel looks at the lew pros and cons tonight from the white house. >> two sources close to the process say white house chief of staff jack lew is expected to be nominated by the end of the week. publicly, jay carney avoided getting ahead of president obama. >> i don't have a timetable for any other personnel announcements but i have no new information. or any change information on secretary geithner departure. >> sources say lew is up with of the president's favorites because of the sharp knowledge of the federal budget and no drama style. capitol hill republicans say lew gained a reputation for being arrogant and rigid in the 2011 dead ceiling fight. the top republican predicts a bumpy confirmation process because lew is too political in the capitol hill testimony. >> he refused to acknowledge basic financial certainly and spun numbers in a way that benefited president. he did not show credibility he wants in the cabinet position. >> the confirmatio
some on capitol hill. correspondent shannon bream on the nomination of jack lew. >> i cannot think of a better person to continue tim's work at treasury than jack lew. >> reporter: president obama nominating a new man to head the treasury department but signaling plans to continue with the fiscal policy the administration relied on in the first term. white house says lew has a keen understanding of domestic and international issues that impact the u.s. economy and point to the track record. >> under president clinton he presided over three budget surpluses in a row. with the talk of deficit reduction, making sure the boog are balanced this is the guy who did it. three times. >> reporter: republican opponent, senator jeff sessions chief among them say jack lew is the wrong man for the job and without then house speaker newt gingrich refusing to allow more government spending the budget achievements would never have happened. sessions without qualification, accuses lew of lying to congress when testifying about the president's fiscal policy and plans. >> he is consistently and delibe
expected to nominate white house chief of staff jack lew later today to be the next treasury of the secretary, but if lou is confirmed he might consider sharpening that signature which will pretty much be on all u.s. currency. here it is loopy and arguably unreadable. current treasury secretary tim geithner said he had a similar problem before he took over. here it is before he took the job. and here what it looks like now. he improved his penmanship to make it easier for folks to read. i can't argue. have you seen mine? martha: it deteriorates with every passing year. bill: jack lew that --. martha: well it is the worst flu outbreak in at least a decade and doing a number on people across the country. the virus is reported in 41 states with nine states reporting high or severe levels of flu. boston's mayor says his city is under siege. he is declaring a public health emergency. the state of massachusetts reporting 18 flu-related deaths so far. the hospitals can barely contain all the people pouring into them. >> we're seeing significant rates of hospitalization, much more se
all cited by president obama as he nominated his chief of staff, jack lew, to be the next treasury secretary but the announcement is drawing attention to the makeup of the president's second-term cabinet. it's on track to be dominated by men. our white house correspondent brianna keilar is joining us from the white house. what is the white house saying about all of this? >> reporter: wolf, the white house has been asked about this quite a bit. white house press secretary jay carney has said that the president believes diversity is important and he's highlighted that there are a number of women serving in the white house and in the administration and indeed there are, wolf, and there's lack of topics in his cabinet. president obama choose a trusted insider to replace timothy geithner as treasury secretary. >> under president clinton, he presided over three budget surpluses in a row. so for all of the talk out there about deficit reduction, making sure our books are balanced, this is the guy who did it three times. >> reporter: jack lew, obama's chief of staff and former budget direc
that guns protect citizens. >> president obama's cabinet shuffle continued today when he nominated jack lew for treasury secretary. he will have to hit the ground running. the nation is society to hit the borrowing limit at the end of january. the president insists lew is ready. >> having lew on your team is the equivalent of a culture to have the luxury of putting anyone in a position and knowing he will do well. >> president obama considered resending the nomination after seeing lew's signature which would be on all currency if confirmed. rick santorum is launching a campaign to defeat the nomination of rick hagel. he says hagel "antiisrael pro iran mindset makes him unqualified for the pentagon job." president obama nominated hagel on monday. >> we're now learning that it sequestration could mean a month-long furlough for civilian employees at the military. the plan requires $45 billion in budget cuts including a 15% cut in payroll. the pentagon says they are studying other options. >> the race is on for a new location for the f.b.i. political l
of integrity, every single one of them, no scandals including the new treasury of secretary jack lew so there will be no scandal or no stupidity, wob exception there is cautious, reliable, responsible and for the most part extremely experienced. and so i give them high marks for these sorts of things. i think the way you fault a president is they are already very well-known to him, have been for a long time. a lot of them are already working for him and are probably exhausted by what is happening over the last four years. second, nobody from bismts i really think it would have been useful to have somebody from the business community. third, still very strong on the harvard, yale, princeton axis, very of the establishment of the democrat central left democratic party. and so if you wanted some freshness, if you wanted somebody outside the box, somebody who would bring something new to an administration that is already tired because of what has happened, i don't think you see that. so you see caution, safety, intelligence and experience. you don't see fresh. >> if you want die virts, i me
will go to the ap. >> it has been widely reported that jack lew was the president's choice for commerce secretary. -- treasury secretary. [inaudible] >> let me say two things. i do not make cabinet level presences. the president does. i will not get ahead of the president. when he is ready to make an announcement about his next treasury secretary, he will make an announcement. secondly i would say jack lew has been and continues to be an extremely valuable adviser to the president. over the quarter of a century he has been an integral part of some of the most important budgetary, financial and fiscal agreements in washington. he was there when social security was reformed, he was there when tax reform passed at the table. in the 1980's. he was the cabinet level director of omb for president clinton. when our budget was balanced for the first time in a generation. he served as deputy secretary of state. he has served as omb director, overseeing some important agreements and planning a major role in achieving them. that was for more than a year. he's been a very capable chief of staff. i
of who is going to be in the president's cabinet. jack lew is the likely nominee. if he picks lew it could set the stage for another contentious confirmation battle. is there any other kind these days, mike emanuel? it seems like everybody that is being picked with the sepgs of senator kerry looks like a tough battle on capitol hill tell us a little bit more about this. >> reporter: good afternoon to you, as you look the at recent nominations these people are all obama people and jack lew has served this president as director of the office of management and budget and white house chief of staff. we are told it is all but a done deal for jack lew to replace timothy geithner as treasury secretary. lew has become a favorite of the president because he has sharp knowledge of the federal budget and his style is no drama. his confirmation would likely be taking place during some bruising budget fight and as congress considers increasing the nation's credit card the debt limit from the podium the white house press secretary has avoided getting ahead of mr. obama. >> i have no other annou
soon to be an announcement, jack lew chief of staff to president obama will be replacing timothy geithner and today, my colleague and i were reporting on a story where wall street's pretty much fine with that although they view geithner as something of an ally and lew as something of an unknown to geithner they feel that overall policy is going to be the same. lew and geithner were pretty much toeing the same line debt ceiling and budget negotiation including the fiscal cliff that happened. >> greta: the irony of opening the door to your new office and finding an office full of manure because the other guy left is fascinating. eric, thank you. >> thanks a lot. >> greta: a video that everybody is talking about a dream wedding in a hot air balloon takes a surprising and scary turn. the bride and groom just exchanged wedding vows over the skies in san diego, and the wind began to swing it back and forth like a pendulum, force it go to crash into a fence in the neighborhood. the bride and groom are uniphased and now on their honeymoon. that's what you call a wedding video. and coming
cabinet announcements in chuck hagel and just yesterday jack lew and while not a cabinet position, the president nominated john brennan to head the cia. all three posts need to be confirmed when the senate gets back to work. and speaking of approval, the president will kick off his second term seven points more popular than the first-term average flying in the face of history, though it's still early. five of the seven u.s. presidents re-elected since world war ii have been less popular in the second terms. so can the president use early momentum to push the policy agenda? let's spin. guys, i have been saying for a while now i think that his second term he's going the see a lot more pushback from the friends on the left than his foes on the right. for one, he's been re-elected. i think the gop has generally resigned themselves to the fact that they're going to be four more years to obama and they have a little less incentive to hang him for every misstep he has but democrats are incentives to watch him more carefully. one, payment, you know, a number of groups, unions for one, inv
. i'm also told, by the way, that jack lew who currently serves as the chief of staff to the president, been very involved in these fiscal cliff negotiations, is likely to be nominated as the next treasury secretary. he's got some republican opponents on the hill. and there's some concern in the business community that he doesn't have enough business and market expertise. but he is expected to be confirmed after nomination. >> chuck hagel, maybe to defense. jack lew to treasury. still have to do cia -- other jobs to do as well. but the president is still in hawaii right now, coming back over the weekend. >> and it's interesting when you talk about this president and talking to people who are familiar with his thought process. it's really about a comfort level for this president. he likes to nominate people he already knows, feels comfortable with in his inner circumstance. . we've seen that on the white house staff, for example. that's what i think we're seeing here in these nominations. >> obviously feels comfortable with john kerry who was nominated as secretary of state. i think he
house chief of staff jack lew is considered to be another choice for the job. at the cia john brennan, an acting cia director michael morell remain on a short list. history shows most presidents get the nominees they want, but in this political environment there's no guarantee. >> it used to be just be supreme court justices who inspired partisan free-for-alls. now it's bleeding down into a president's cabinet picks as well. >> some confirmations will be easier than others. if chuck hagel does get the nod, we expect that there will be continued resistance there. one of the picks for secretary of state, senator john kerry, his confirmation expected to be a smooth one. suzanne. >> i understand the president and white house reacting it to a december jobs report that came out today. we had 155,000 jobs added here, unemployment rate was unchanged however. do is the white house pleased with those numbers? >> reporter: to a point. i mean, the release from the white house similar to what we've seen over the last year when these job numbers come out is that they believe that the economy is mov
nomination of the white house chief of staff jack lew to treasury secretary shows president obama has no intention following through on cuts. here is charles krauthamer on this last night. >> he is not interested in spending cuts. he is not interested in reform. he wants to defend the entitlement state. he wants to defend obamacare. even add on to it. he calls it investments. of course normal people would call it spending. and lew is the guy you want if you want to hold the fort what i call reactionary liberalism. you have the great achievements of the last century in building an entitlement state. he is the guy who would defend the for the. martha: great achievement in building entitlement society. says charles krauthamer. we have marjorie clifton and braid blakeman. good to have you both of us with us. >> thank you. martha: here is the fight. and my question for you, brad, how specific, how should republicans handle this? how, you should they do a big p.r. campaign and say these are the specific things we want to cut, mr. the president and you give us good argument not to do it? >>
this week after naming scrutiny this week after naming jack jack lew as treasury secretary, the fourth white male mr. obama. the fourth white male mr. obama has chosen in the last month to has chosen in the last month tot fill top openings in his cabinei and administration.onve seized critics have seized on this photo that shows the president photo that shows the president surrounded by all male advisors, although t surrounded by all male advisers top aid although the white house says top aidehidden behind the men. in addition, one of the president's two female deputy chiefs of valerie jarrett is hidden behind the men. e.p.a. administrator lisa week. epa jackson is quitting and so is is quitting and so is labor labor secretary hilda solis.s.d perhaps the most high profile woman in the president's perhaps the most high-profile woman in the president's cabinet, secretary of state e ha hillary clinton is also on her way out. >> the white house is probably going to be careful with the ls next announcement to have some next announcement to women, maybe some minorities to women, maybe some minorit
-mail, too. the president nominating jack lew to become the treasury secretary. partly and chiefly because of his budget experience. what are your thoughts about the pick and what he brings to the table? guest: i certainly hope it will be positive. i think he will be on a roll with treasury to be having a lot of data at his fingertips, which indicates virtually no interest environment that we are in, it has its pluses and minuses. it also is an environment today where there is not much inflation. if he were to compound inflation in the future, he would well understand what that would do to budgets as well. i think he hopefully is able to bring a perspective and said, let's get some long-term problems dealt with now because here are the risks. he has to be a risk manager. he has to be able to explain these things. this has not been talked about yet. i held as treasury secretary -- he has had experience around congress -- he is more of a washington person. i would hope because he has had political awareness, he would understand the significance and focus on a growth agenda. the fundamental c
Search Results 0 to 27 of about 28 (some duplicates have been removed)

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